Keep the faith — the price will go up again (including Musicoin)!!!!

There’s been lots of talk recently about the state of the crypto markets with cryptos falling across the board. Bitcoin has taken a massive dive from $20,000 in December 2017 to around $6,800 today. Ok, so lots of people, mainly Bankers have been calling time on Crypto with ‘bubble’ talk and ‘tulip mania’ surfacing again. However, it’s definitely worth thinking about this more carefully before jumping to any rash conclusions. There have been lots of useful comments on this subject and obviously alot of very unhelpful commentary (which is expected). This is our take:

Firstly, in any market conditions there are ups and downs and we are in a downward cycle at the moment. Even major corporates can suffer from a collapsing share price, take Facebook for example. Therefore, even though Cryptos have taken a hit, they will be back because trading volumes are too high for people to just leave and never return again, there is clear commitment to the crypto market.

Secondly, physical assets are not a prerequisite of a high value intangible asset like a crypto. Take Facebook for example again. What are Facebook’s marketable assets? A social media platform? a market place? the users who use the platform? confidence in the users? the advertising opportunities? Nobody real knows because it isn’t a bar of Gold or a Mercedes Benz, it’s intangible and exists because people believe in it enough to use it and invest in it. Exactly the same reasoning applies to Cryptos like Musicoin which exist because of the value of the musicians who use the platform.

Finally, people make irrational decisions when money is involved. Bull runs and massive selloffs cannot be predicted because humans have emotions and are not robots. Sometimes people invest in things like Cryptos because they believe in an alternative social order, they want things to be done differently and they’re sick of the ‘old money’ system. These things cannot be quantified or measured because they’re emotional and humans can make decisions that cannot be explained sometimes. That’s why Cryptos will continue to exist for many years to come.

Listen to KRISG184 for free on Musicoin here: https://musicoin.org/track/0x0aef23b980688fd2d23479c3d6869fd2e000b807